All Forum Posts by: Krishna Chava

@Hubert H Byron III I don't have enough data quantify OpEX savings (Know before AC breaks, etc) or lower vacancy rates. I believe there is an advantage and soon we will have data to prove it. Right now, getting stats about a property without visiting the properties saves time.

I have furnished my AirBnB with cort.com. This is retired rental furniture, they set up everything for me, cost <4k to fully furnish 3 bedroom house.

If you have a smart look, you need a way to enter/delete codes remotely. You need to buy a hub. Also, buy nest or some other thermostat that auto turns off AC when tenants aren't there. Saves a lot of money in hot/cold weather.

@Stephen Green I second @Courtney King in the choice of areas mentioned. I will add Forest Hill to the list as my properties are doing well there. If I have to pick one city, I will pick Grand Prairie.

@Melissa Man It's a little slow to rent out >2000 per month properties now. It should pick up after all the new office buildings along 121 corridor have finished. I bought an SFH in The Colony right next to 121 and put it on AirBnB until rents pick up.

@Skye Anderson Yes, those rates are correct. That's why I self manage 75 properties and have automation systems in place such that I know what is happening without going there. I wouldn't look for cheap property management though. This is not a job where you want someone cutting corners. I would look for reputable property manager, registered with NARPM and pay them market price and expect them to do good job.

@Timothy Woodland why not use tenant WiFi and give access of footage to tenant. That will be best solution. No one likes being watched over. I recommend starting with video doorbells. Our propeties have them along with other automation.

Thanks, everyone for inputs. Great insight into submarket I was interested in 2 years ago.

@Jessica Wood If the tenant hasn't paid rent AND utilities that tenant is supposed to pay are cutoff then the property is considered abandoned as per our lease. 

@Ashley Wolfe STR is very difficult to manage remotely. One irate guest can sink your business by writing a nasty review. That said, its worth trying if you are getting 2x to 3x of Long term. I would automate everything: keyless check-in, remote video moniotoring (outside the property), automated HVAC controls etc. Also automate your response emails to guests with software like Airgms.

@Michael Biggs while collin county is great, prices are high and lots of people have hard time renting out due to new apartment supply coming online. My recommendation is to invest in Tarrant county.